Richmond dispatch. [volume] (Richmond, Va.) 1884-1903, 1887-01-06
the Amount of the State Debt.

The Amount OF the state DeDt.
ga Countryman" writes to US as fol-
= ows:
FLuvASsA COUNTY, Va, Jan. 3, 1881.
To the Editor of the dispatch:
I. Please state in your Daily Dispatch
the amount OF vrginia's dnte.beiium debt,
as made by the Riddleberger bill.
2. Tell us where the Second Auditor gets
hls figures making Virginia's debt $780,
100000, or whereabouts.
3. The Riddleberger settlement was for
about $21, 100000. Does the State really
ove any more than that amounti and IL so,
how muchi
4. How much Of the debt has been paid
since the Riddleberger settlement was
made, and what amount has been funded
under that billi A CoUNTRYxAN.
1.-The RIDpLEBERoER bill fixed the total
amount OF the debt owing by Virginia as
Of July 1, 1882. at s21, 035, S77.15.
2. The Second Auditors figures were
taken from the books In his Office, we sup.
pose.
3. or course the State owes more than
that amount, seeing that not one third OF
the bonds issued In 1871, 1879. and pre-
viously, have been refunded under the
RIDDLEBERGER bill. IL her creditors &C.
knowledged that Virginia owed no more
than twenty-one millions OF dollars, she
would Of course be willing TO pay all she
owed. Her own Legislature OF 1882 ascer-
tanned 1--WE use the word ascertsined" In
Its technical sense the amount to be as
above stated, and both the great parties OF
the State have pledged themselves 10 stand
by the bill which fixes the debt
at that sum. How much Virginia
really ewes we are not prepared TO state.
Our correspondent must not lose sight OF
the fact that one third Of the debt was
kindly turned over to West Virginia, with
out her consent, and that she laughs to
scorn the pretence that she owes even one
million Of 1t. She will never pay dime OF
it. He might, therefore, add s10,5O0,o00 to
the $21, 100000 referred TO above. Again:
In 1871, the Virginia Legislature ascertained
her debt to be over thirty millions, after
deducting one third for West Virginia;
and rs no considerable part Of that debt
has been paid, our correspondent can add
as much as he may choose TO add on that
account.
4. None OF the debt has been paid since
the RIpDLEBERoER bill was passed so far as
we know. The amount funded under that
bill up to July !, 1886, was So, s63, 357.7l, Of
which 81, 943, s43.47 was Thought and taken
In by the State" This last sum was in
cluded when the State debt was stated at
$4,000 900 by Colonel RUFFIS. We re-
Gently made out the debt to be over thirty.
three millions. II can be stated at almost
any amount between seventy millions and
fifteen millions, depending upon whose esti-
mate is accepted as the true one. Ii Vir-
GINA owed S45,000,0Oe in 1871, aud that
sum hes been bearing interest ever since at
per cent, and only fourteen millionsof
interest has been paid since that time, some
persons might claim that she owes at least
seventy millions, whereas on the other
hand several very prominent Resdjusters
claim that she does not owe even fifteen
millions. We take 1t for granted that the
creditors would compromise on thirty
millions IL they knew as well as Mr.. COOPER
the real condition Of things in Virginia.